The fashion retailer SuperGroup has tripled its annual profits and vowed to step up international expansion. The owner of the Superdry brand said it would open 20 stores in the UK this year and 38 overseas – in the Americas, Europe, Asia Pacific and the Middle East regions – as well as 16 concessions internationally.

Julian Dunkerton, the chief executive of SuperGroup, which also owns Cult clothing stores, a wholesale business and has 39 franchisees in 14 countries, said: "Superdry is fast becoming a truly global brand."

For the year to 2 May, SuperGroup more than tripled its underlying pre-tax profit to £26.5m, on group sales up 83.1 per cent to £139.4m. Shares in SuperGroup, which floated at 500p in March, rose 120p to 920p.